Cofounder - Head of Risk & Actuarial

Every year, over 700,000 workers, students, and apprentices from low-income countries arrive in the EU needing €2,500–€12,000 upfront to cover visa fees, language tests, qualification recognition, and relocation. No one finances this. Banks won't touch it. Families go into debt.

Workabroad Advance is our answer: an income-share agreement product that finances migration costs and collects repayments via employer-mediated payroll, once the worker is placed and earning. The SAM is €6.4B/year in the EU alone. Nobody has built this. You will.

Tasks

What you'll do

Build the ISA underwriting model — default probability by borrower profile, income trajectory assumptions, and loss-given-default curves — without credit bureau data

Set income-share rates and repayment caps by borrower cohort

Stress-test the portfolio against macroeconomic shocks, default clustering, and income interruption events

Structure the warehouse debt facility — tranche sizing, loss triggers, investor reporting

Define the path to ABS securitisation at scale

Lead regulatory classification of the product under BaFin and AFM consumer credit frameworks

Co-own the company as a founding team member

Requirements

What you bring

Part-qualified or fully qualified actuary (SOA, IFoA, or DAV) — or equivalent depth in structured credit, consumer lending, or quantitative risk

Hands-on experience building credit scorecards, PD/LGD models, or pricing models — not just studied them

Comfort underwriting thin-file or no-file borrowers — emerging-market or migrant lending experience is a strong differentiator

Working knowledge of structured finance mechanics: waterfalls, tranching, loss absorption, warehouse facilities

Founder mindset — you want to build, not maintain

Benefits

Greenfield category — not many comparable ISA products for this market in Europe

Cofounder equity + reasonable comp

Structural collection advantage that no standalone lender can replicate

Direct path to ABS and institutional debt capital at scale

How would you build a default probability model for a worker from the Philippines entering the German labour market, with no German credit history? Walk us through the variables, data sources, and assumptions.

Find more English Speaking Jobs in Germany on Arbeitnow